Analyst: Gold is increasingly resembling a tool to hedge against the uncertainty of Trump's policies

Chris Weston, Head of Research at Pepperstone, pointed out in a report that gold is increasingly resembling a tool to hedge against the "unpredictability" of Trump's policies.
Although many traders see gold as a hedge against the risk of a US-EU tariff war triggered by Trump's potential actions in Greenland, he noted that even if the tariff threats are lifted, the rally in gold has not retreated.
Weston added that global central banks, especially those in emerging markets, are almost daily looking for reasons to shift reserves from the dollar to gold. He believes that the spot gold and gold futures prices will "sooner or later" reach $5,000 per ounce, with the target now within reach and attracting buyers.